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Overview

Finotec is a trading brand of the Finotec Trading Inc., which has its Head Office in New York, and its representative offices are located in many European countries.

Finotek began started its operations in the field of brokerage services in 1998 and since that time it has was able to recruit a large number of traders from all over the world.

Clients of the broker have access to all financial markets of the world and can trade currency, options, precious metals, futures, and securities.

Novice traders will find on the site of the broker a lot of training courses that provide the opportunity to study trading on the foreign exchange market from A to Z. In addition, VIP-clients are provided with exclusive training, conducted by financial instructors of the broker.

Bonuses

Contests for traders and Forex deposit bonuses are not available on the site of the Finotec both for regular and new customers. It is supposed to be a big disadvantage of the broker.

The only opportunity to receive certain benefits while trading on the global financial markets, and especially on the currency market, is a loyalty program for VIP-clients.

Advantages received by VIP-clients according to the loyalty program:

1. VIP-training of trading currency pairs, options, commodities is conducted by financial instructors of the broker:

- technical analysis

- fundamental analysis

- exclusive high-precision trading tools for analysis.

2. Individual reports on the financial markets.

3. Individual market analysis that takes into account the client's preferences in trading.

4. Report about the most important economic events taking into consideration the influence on the client's assets.

5. Personal dealer for VIP-clients.

To participate in the loyalty program Finotec, traders should send an application form to employees of the broker, who inform traders about their decisions after its consideration. The client's deposit, daily trading volume, size of trading transactions and some other criteria are taken into account while considering the application.

Training

Several educational courses are published on the official website of the Finotec. They can help novice traders to master the rules of trading currency pairs and options.

Training course "Basics of Forex".

1. Interesting facts about the foreign exchange market

2. Participants of the highly liquid market

3. what are foreign exchange rates

4. Main tools, used on Forex

5. Types of trade transactions

6. Main advantages of Forex

7. How to calculate pips (points) while trading

8. What is swap and how to use it.

Training Course "Introduction to the Foreign Exchange Market".

1. Everything about the international currency market

2. Why traders choose Forex

3. How to trade on the foreign exchange market receiving profits:

- trade options

- Forex trading strategies.

4. The comprehensive analysis of the foreign exchange market:

- basics of fundamental analysis

- principles of technical analysis

- general principles of currency pair trading

- psychology of Internet trading

- trading order types on Forex

- basic dogma for profitable trading.

Training course "Basics of Fundamental Analysis".

1. Introductory chapter:

- what is macroeconomics?

- foreign exchange rates.

2. Policy, conducted by central banks of different countries:

- stable foreign exchange rates

- unstable foreign exchange rates

- foreign exchange bands

- priorities of central banks.

3. How the foreign exchange market affects the bond market:

- basic information

- why the dollar falls

4. Economies of developed foreign countries:

- Europe

- Japan

- the USA.

5. Interest rates.

6. Trading indicators:

- general information

- Forex trading strategy

- Forex forecasts.

Training course "Technical Analysis of the Currency Market".

1. Dow Theory.

2. Major trends:

- primary and secondary

- minor

- support and resistance

- trend characteristics

- Fibonacci retracement.

3. Oscillators:

- Bollinger bands

- moving averages

- MACD

- RSI.

4. Trend patterns:

- triangle

- head and shoulders

- double top

- secondary patterns.

5. Japanese candlesticks:

- main signs of going up

- main signs of going down.

6. Elliott waves.

Training course "Options".

1. Options on the Forex market

- option types

- advantages of options

- selling price.

2. How to calculate gains and losses on options

3. Hedging.

4. Basic strategies for options trading.

5. Rare options.

6. Trading strategies for options.

Training course "Correct Money Management".

1. How to manage finances

2. How to determine the degree of risk in currency pairs trading

3. Traps, which traders can getting caught in

4. How to increase a profit using a competent strategy

All courses on Forex trading are completely free, but only clients of the broker can learn them, as they are not available without a complete registration.

Novice traders can take advantage of demo accounts that allow them to trade currency pairs, indices, CFDs and options in the real world of the financial markets, but with virtual money, and this gives the opportunity to avoid losses in the initial phase of training.

Terms of trading

Finotec offers the following trading conditions for traders:

- the foreign currency account (the base currency)

- no minimum deposit

- the leverage is 1:100

- a lot of currency pairs, securities, gold, silver, futures

- spread is fixed from 3 points

- no commission fee.

Finotec Trading (analogue of MetaTrader 4)

- multi-language support

- order execution - Instant Execution

- one click trading

- trading charts with Forex indicators

- currency quotes in a creeping line

- margin transactions

- connection of Forex expert advisors

- chart printing.

Finotec offers two types of accounts for trading on the global financial market:

- Mini

- Standard.

Trading account Mini:

- the minimum deposit is $200

- the leverage is 1:100

- spread is fixed from 3 points

- binary options are unavailable

- automated trading is available.

Trading account Standard:

- the minimum deposit is $10000

- the leverage is 1:100

- spread is fixed from 3 points

- the maximum trading transaction size is $50,000

- margin is 1%

- binary options are available

- automated trading is available.

Forex indicators (recommended)

- Accelerator LSMA

- Divergence Trader Ron

- Instant Trend Line

- Pattern Recognition

- Belomor Trend Factor.

Forex expert advisors (recommended)

- Forex EA Better (an automated Forex advisor that allows traders to change numerous settings, making it possible to use this advisor for trading any currency pair and in all time frames, and an embedded neural network makes it capable of self-learning)

- Progressor v 1.9 (an automated Forex expert advisor that uses averaging for analysis of the Forex market, showing a good profit on different currency pairs, but it can operate at the same time as an effective scalper using certain settings)

- Rabbit (a universal Forex expert advisor that can be adjusted to any time interval, as well as to various currency pairs, making a profit on the foreign exchange market automatically).

Investments

The site Finotec is currently not providing investors platforms for transfer of finances to professional traders in trust management. Customers, who have chosen to invest money, can independently look for a trader, to whom they transfer them for management, but they will bear the responsibility for them and the broker does not accept any claims.

Unique features

Customers of the Finotec can enjoy the following unique opportunities that are provided by the broker for free:

- Pip Calculator

- Currency Converter

- expert analysis.

Traders of the Finotec can join an affiliate program of the broker, which enables them to earn extra income by attracting new customers. The affiliate program has several directions, which are divided into natural and legal persons. If natural persons can earn on an affiliate program within $100 for attraction of customers, continuing to receive commission fees from their trading in the future, legal persons have the opportunity to start their own business in the field of brokerage services with profits that depend only on their activities.

Add/withdraw funds

Customers of the Finotec can fund their trading accounts using only credit cards MasterCard, Visa and bank transfers.

Contacts

Finotec provides the comprehensive support to its customers via e-mail [email protected], via online chat or by international phone + 44-0-203-514-55-55.

Cons and pros

+ the American broker

+ good leverage

+ free trading courses on Forex trading

- the minimum deposit is $200

- quite big spread

- no Forex bonuses

- no contests for traders

- few ways to deposit and withdraw funds.

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